El Salvador took advantage of a record sale of government debt in September to refinance its foreign debt through a special purpose vehicle through JPMorgan Chase. By tendering its entire $7.2 billion foreign debt, the country eventually agreed to buy back $1.03 billion, or 14% of its bonds maturing between 2027 and 2052. Bonds with … Read more
US President Joe Biden delivers remarks on the economy at IBEW Local 26 in Lanham, Maryland, US, February 15, 2023. — Reuters US President Joe Biden announced Thursday additional student debt relief for public sector employees amounting to about $4.5 billion, with just over two weeks remaining until the presidential election. This will help about … Read more
Money’s Main Takeaways We only recommend debt relief when other, more favorable options aren’t viable. Debt consolidation loans and credit counseling often make better financial sense for borrowers. To increase their bargaining power, debt relief companies require that you stop paying creditors, almost certainly to the detriment of your credit score. A debt relief program … Read more